Mumbai: Ending speculation about its listing plans, top stock exchange NSE on Monday said it has decided to get listed in India as well as abroad and will file draft papers with Sebi for domestic listing by January 2017. It will further file for overseas listing by April 2017.
The exchange, which has been pitching hard for either self-listing or direct supervision by Sebi and not by a rival exchange, said in a statement that its board of directors “has expressed desire to file the draft red herring prospectus latest by January 2017, after addressing restructuring needs and regulatory requirements for listing”.
“The board also advised the NSE management to file for overseas listing by April 2017,” the exchange said. “Further, to accelerate the listing procedures, the board has re-constituted the current listing committee as an empowered sub-committee of the board,” NSE said. “The said committee will take decisions within a stipulated timeline.” The decisions related to listing were taken during the last meeting of the board of directors on June 23, 2016.
NSE has been facing intense pressure from its shareholders to go public and had formed a listing committee to expedite the listing process and seek support for self-listing. The exchange has reportedly approached the government and Sebi to bring in norms for self-listing. Regulations of the Securities and Exchange Board of India (Sebi) do not provide for self-listing of a stock exchange. PTI
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